5 Tips for Aspiring Entrepreneurs on Starting Small
I’ve tried to be well-rounded in the topics I cover in this blog. However, I can’t write what I don’t know or haven’t experienced. So a big glaring whole is the topic on having your own business. Luckily, today we have a guest post from Gina Ballesteros of Regus, offering some nice tips for entrepreneurs on starting small.
You have probably heard of the old saying, “when eating an elephant, take one bite at a time”. It is the principle of taking baby steps in order to achieve a big thing. Project managers set mini goals to assess progress, celebrate accomplishments and balance the workload. Rock climbers plan their path then concentrate on the five to ten feet above them. Opening a business is the same – you need to start small and work your way up. Here is how you can do just that.
Look Round You
This is how you will find inspiration for your enterprise. You will also be able to spot any gaps in the market and use them to your advantage. The best places where you can begin your search for worthwhile ideas are social networking sites, such as Facebook, Twitter and Pinterest. Just follow and see what marketing professionals and entrepreneurs have been up to by observing their profiles. You are sure to get inspiration in no time.
Consider Alternative Distribution
Keeping your start-up running can be much easier when you are willing to look at channels for alternative distribution. You do not have to set up a big shop if you are open to working with courier services and shipping out of home. You could also explore online platforms such as AyosDito or Sulit to sell your products via the internet. Buying a vehicle for delivering your goods to your customers’ doorstep is another option you should consider.
Find a Partner
If you want to have someone to share the rental fees for serviced offices in Cebu or Davao with, partnership only makes sense. However, bear in mind: It can be a very tall order, unless you share the same mission and vision. Your professional relationship can either last for years to come or breakup in an unpleasant manner. While two can be better than one, sometimes that is not always the case. So, whether you find a partner or go solo is entirely your decision.
Look at Crowdsourcing
When you are willing to collaborate, co-create and raise funds for your start-up, then crowdsourcing is a great idea to explore. Though it is not as common here in the Philippines as it is abroad, it is slowly starting to gain popularity among the public. For relevant websites that you can check out, there is Kickstarter, oDesk and Freelancer.ph.
Have a Practical Approach to Money
Most business owners worry too much about funding and spend a lot of time and effort in looking for capital. However, you have to realize that you will need to repay your loans at some point. Thus, it is best to be practical and not take on the burden unnecessarily. If you can dip into your savings account or find angel investors, go with those options. That way, you will not have to worry about covering the interest rates and paying off huge debts.
Use Free Tools
Taking advantage of social media sites such as Google Plus and Tumblr will help you get the word around. Pictures are always more appealing than just text so go out and make people notice your work. Investing time to build a nice blog is a great way to promote your business too. WordPress and Blogger are free services to you might want to check them out.
Starting a company can be as simple as you make it. The key to entrepreneurial success is to take baby steps and steadily build a following from there. And, oh, do not forget to get help from experts or service providers should the situation call for it. That way, you will be able to actually enjoy the experience while it lasts.
About the Author
Catering to clients in almost 100 countries, Regus is a multinational organisation specialising in quality office space and conference rooms. They also have work pods and video communication suites for rent for the short or long term.
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